Wbg expands external audit services with tech and staff investment

Scottish accountancy firm Wbg is expanding its external audit services with investment in new staff and technology, as organisations across the UK face difficulties securing auditors.

The firm has recruited record levels of trainees and other staff, doubling its graduate intake compared with the past three years. Its external audit team has grown from 28 people in 2022 to 40 this year, with further recruitment under way.

Wbg has also invested in data analytics software and an automation platform designed to improve efficiency and allow auditors to focus on client engagement.

Around 100,000 organisations in the UK require a statutory audit, with demand rising as more firms withdraw from the market due to capacity constraints and service conflicts.

Wbg said it has seen “strong growth” across its seven focus sectors, including public, health and rural organisations, with new clients and repeat appointments across the UK.

The firm was recently reappointed for a third time as auditor to City Property Glasgow, covering all seven group entities including City Property Glasgow (Investments) LLP, which manages a portfolio of about 1,800 retail, industrial, office and residential units. 

The audit also covers entities set up to support sale-and-leaseback arrangements with Glasgow City Council to help release funds for equal pay claims.

Scott Gillon, partner and head of external audit, said: “The investment in this software is a key step in the client journey. It will radically reduce the quantity of audit tasks that are currently not automated and give us enhanced capability enabling us to focus on value-add discussions and client engagement ahead of imminent regulatory changes.

“In contrast to many other auditors, this investment in people and technology gives us the capacity to further enhance our external audit offering and help potential clients who are struggling to either find or change an auditor.”